Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

Business

RAC urges Government not to raise fuel duty on squeezed motorists

Motoring group RAC has called on the Government not to hike fuel duty in the Autumn Statement this week.

It fears that revoking the 5p cut in fuel duty would put millions of motorists struggling with inflation and higher bills under even more pressure this winter.

RAC fuel spokesman Simon Williams said: “We strongly urge the Prime Minister and Chancellor not to raise fuel duty as it would be a body blow to the millions of hard-working people who depend on their cars.

“RAC data shows a clear link between inflation and fuel prices so we fear putting further stress on already-squeezed household budgets by forcing them to spend even more on petrol and diesel would be disastrous.”

It argued that many Brits have “little choice but to drive,” and that raising fuel duty would be punishing people for “getting to work, doing the weekly shop or visiting and caring for family members.”

Sunak unveiled the five pence cut in fuel duty in March during the Spring Statement earlier this year, while he was still serving as Chancellor under Boris Johnson’s former Government.

The cut was set to remain in place until next March, while petrol prices have eased amid sliding oil prices and reduced demand, with unleaded and diesel currently trading at 165p per litre and 190p per litre respectively.

However it is unclear which support packages for consumers will remain in place as the Government looks to fill a £50bn fiscal hole, with Hunt already slashing the Energy Price Guarantee from two years to six months.

Read more:
RAC urges Government not to raise fuel duty on squeezed motorists

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    World News

    BEIJING — China landed an uncrewed spacecraft on the far side of the moon on Sunday, overcoming a key hurdle in its landmark mission...

    World News

    LONDON — Talks aimed at reaching a global agreement on how to better fight pandemics will be concluded by 2025 or earlier if possible,...

    World News

    SINGAPORE — Ukrainian President Volodmyr Zelensky’s unscheduled appearance at Asia’s biggest security conference dominated proceedings on Sunday after China’s defense chief slammed “separatists” in...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 rightdecisionnow.com | All Rights Reserved